Heather Cho, who gained notoriety five years ago for her role in “the nut rage incident," has been criticizing her younger brother by claiming their father wanted the family to cooperate and run the business together.

Shinesgae and other departmental stores in South Korea are facing stiff competition from online e-commerce retailers. As a result, Shinsegae's share price has dropped by 38% since we last measured fortunes.

The cover of the Forbes Billionaires List issue back in 1996 asked the question: “Is the 21st the Asian Century?” In the five years to 1996, the U.S. share of the world’s billionaires had edged down to 33% from 35%. Asia, including Japan, had increased to 28% from 25%. Though [...]